Intellect Design up 3.5%

Intellect Design Arena is seeing some action, with the price rising almost 3.5% to an intraday high at Rs.668. Its 20% UC is at Rs.776.85 while 52-week high stands at Rs.892.

The mood on the counter is upbeat after the company announced that it has won the Destiny Deal from State Bank of India for its Digital Wealth Transformation, known as Wealth Cube.

SBI has chosen Intellect's digital wealth, contextual and composable platform to accelerate business expansion and improve operational efficiencies through STP.

SBI has prioritised wealth management business and is focusing on offering customers the flexibility to invest, transact and view their portfolio through digital channels.

Though no financial contours of the deal have been shared, for the company, bagging a deal from the largest PSU bank is good for the reputation and could bring in more business.